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This is not the 1970s, and Milton Friedman is not a socialist.
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Originally Posted by sgtclub
Inflationary concerns mostly. And yes I know the theoretical relationship between inflation and employment.
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I find this commitment to worrying about inflation absolutely baffling. The Fed has an inflation target. Inflation is below that target. According to policy, we should want more inflation than we now see, because inflation is so low.
Do you wonder why Milton Friedman was advocating QE for Japan in 2000? Do you think he momentarily forgot everything he believed in and went all Leninist or something?
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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